ContextLogic

The ContextLogic company which manages service of e-commerce Wish is founded in 2010 by the being head of Google Peter Shulchevski and the veteran of Yahoo Danny Cheung.

The trade Wish online platform monitors actions of the client better to adapt under his requests. By the end of 2020 service has more than 100 million active users who visit the website Wish not less once a month. Every day on the platform about 2 million products are on sale. In the Wish directory there are more than 150 million names of products.

History

2020: The IPO and an exit of DST Global from the project

On December 16, 2020 ContextLogic officially became the public company, having placed the shares on the Nasdaq exchange under Wish ticker.

Within the IPO company sold shares at the price of $24 thanks to what it was succeeded to attract $1.1 billion at capitalization in $17 billion. It is higher in 11 billion than assessment of $ which was received by a startup in August, 2019 according to the results of a final round of financing in the status of the non-public company.

Yury Milner's fund sold shares of the online platform of Deshevykh of things of Wish during its IPO

To opening of the exchange on December 16 the quotation rate of ContextLogic made $22.75, and during the day the indicator fell up to $20.05 that it is 16% less than the IPO level. At the time of closing of the exchange on December 17 the cost of securities of the company was $22.27.

Goldman Sachs, JPMorgan and BofA Securities are selected by leading underwriters of listing of ContextLogic.

The DST Global fund of Yury Milner, fund of founders of Peter Til, Formation8 Partners, GGV Capital and private investment company General Atlantic were among investors of ContextLogic. DST Global sold all the shares of ContextLogic after the IPO.^[1]

2015-2017: The first investments of DST Global of Yury Milner

For the first time the DST Global fund of Yury Milner invested in ContextLogic in 2015, having headed a round for $500 million. In 2017 DST Global repeatedly invested in the project in a round which amount did not reveal, with the assistance of Temasek Holdings, U.S. Venture Capital Firms, Third Point Ventures LLC and Founders Fund.

Notes